In Law360, Amy Roy and Rob Skinner Reflect on 2023’s Notable ESG Investing Developments

In a co-authored article for Law360, litigation & enforcement partners Amy Roy and Rob Skinner share how the culture war over ESG investing has ignited sparks among investors, legislators, regulators, and Congress.

“Notable 2023 developments include not only the ESG-related statutes that legislators put into effect this year, but also the ways that other actors reacted and adapted to the requirements imposed by the new legislation,” said Amy and Rob. “On the ground, the people responsible for managing portfolios of assets — including public pension fund officials and private asset management firms — are left to navigate the often-conflicting array of mandates emanating from the political sphere.”

The article covers critical issues including the nationwide patchwork of ESG legislation; red state fiduciary and boycott statutes; blue state statutes promoting ESG investment; and congressional activity.

“Looking ahead to 2024, with elections looming, the debate shows no signs of abating, and many ESG-related bills remain pending in Congress and state legislatures,” said Amy and Rob. “It remains to be seen to what extent, if any, these efforts will result in any meaningful shift in ESG investing across the asset management industry — a shift that may ultimately be driven by next year's election results at both the federal and state levels.”